Good morning, today a quick rant on Elon’s stupid comment.

Have a nice weekend.

Eddie G.

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Making the rounds on social media is a viral video clip of Elon Musk saying we no longer have to save for retirment, that it won’t matter:

“Don’t worry about squirreling money away for retirement in 10 or 20 years.”

“It won’t matter.”

The world’s richest person by far is handing out investment advice. Do you take it?

Elon is a divisive character - many despise him, he’s unconventional, he’s political, but he’s the richest man in the world for a reason - his uncanny entrepreneurialsim in creating 6 unicorn companies against all odds and protest - hate him or love him - he’s pretty darn smart. And yes, it is natural for people to hate those at the top (I don’t), no matter what the reason.

I digress...

Here we are on a topic that I know a little something about - money, investing, saving, etc.

Isn’t it ironic this all comes from the guy who says he needs a trillion dollar pay package?

If we don’t need to save and invest, why does Elon need so much money?

Maybe he genuinley believes AI will take all the jobs and that we’ll all be living off some universal basic income while the robots clean our toilets.

Maybe he thinks he’ll be the provider for all and give us his money…

Maybe. But maybe not. And when I ask?

I too am worried unemployment could be as high as 99% one day due to AI. And maybe there will be a universal basic income and the majority are simply happy with all the things they need.

It does sounds like Elon is pumping the idea of some sort of communist AI world.

Lest we forget, in all communist cases, there are people at the top that decide and plunder.

Whatever the case - AI communism or a continuation of capitalism as we know it - people that bolster their personal economic viability today will be far better off and in a world of relativity that’s just the simple truth no matter the outcome of a Universal Basic Income.

And whether you think this is all overblown nonsense, I believe is it is paramount to stack as much of your wealth into things that participate and go up with invention, or fall further behind and into a permanent trap of capture.

So no, Elon. I won’t be taking your advice.

And neither should you.

Earn more, spend less, invest the difference.

“Be who you are and say what you feel, because those who mind don't matter, and those who matter don't mind."

—Bernard M. Baruch

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_{Footnote: Price Data embedded from stocktwits.com. One day % change is based off the previous day’s close price vs price at time of publication.}